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||||Contents||
|---|---|---|---|---|
|Trustees' Report||||I to 12|
|Reference and Administrative||Details|||
|Independent
Examiner's|Report|||13|
|Statement ofFinancial|Activities|||14to 15|
|Balance Sheet||||16|
|Statement ofCash Flows||||17|
|Notes to the Financial|Statements|||18to 27|
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|Trustees an|d of5cers|d of5cers|d of5cers|
|---|---|---|---|
|The trustees|and officers serving during the year and since the year end were as follows:|||
|Trustees:|Michael Forbes|||
||Shobna Bazzaz|||
||Alison Lloyd|||
||Nick Sister|||
||Frank Abbott|||
||Michael Marsden|||
||Rebecca Blackwood|||
||Iain Cockhill|||
||William Harvey|(appointed|11September 2022)|
||Christine
Stevens|(appointed 3October 2023)||
||Caroline Boseley|(resigned|11September 2022)|
||Isobel Whitelegg|(resigned|11July 2022)|
||Cindy Sissokho (resigned||11September 2022)|
||Norman
Cherry (resigned||26January 2023)|
|Secretary:|Jessica Colebourne-Viggers||(appointed 9August 2023)|
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|||and Los|ses)|||
|---|---|---|---|---|---|
|||||Total|Total|
|||Unrestricted|Restricted|2023|2022|
||Note|||||
|Income and Endowments|from:|||||
|Donations
and legacies|2|71,257||71,257|111,916|
|Charitable
activities|3|61,455|248,392|309,847|452,712|
|Investment
income|5|7||7||
|Total Income||132,719|248,392|381,111|564,628|
|Expenditure
on:||||||
|Charitable
activities||(225,201)|(87,435)|(312,636)|(267,378)|
|Total Expenditure||~225,20)|~87,435)|~3)2,636|~267,378|
|Net (expenditure)/income
Transfers between
funds||(92,482)
171,161|160,957
~)7),)6))|68,475|297,250|
|Net movement
in funds||78,679|(10,204)|68,475|297,250|
|Reconciliation offunds||||||
|Total funds brought
forward||606,990|159,085|766,075|468,825|
|Total funds carried forward|13|685,669|148,881|834,550|766,075|
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|These are the figures for the previous|These are the figures for the previous|accounting|period|and are included|for comparative|purposes|
|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|
|||||funds|funds|2022|
|||Note||f,||f,|
|Income and Endowments|from:||||||
|Donations
and legacies||||111,916||111,916|
|Charitable
activities||||86,978|365,734|452,712|
|Total income||||198,894|365,734|564,628|
|Expenditure
on:
Charitable
activities|||6|~)92,193|~75,)85|~267,378|
|Total expenditure||||~192,)93)|(75,)85)|~267,378)|
|Net income
Transfers between
funds||||6,701
240,726|290,549
~240,726)|297,250|
|Net movement
in funds||||247,427|49,823|297,250|
|Reconciliation offunds|||||||
|Total funds brought
forward||||359,563|109,262|468,825|
|Total funds carried forward|||13|606,990|159,085|766,075|
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|||Balance Sheet as at|31 March 20|23||
|---|---|---|---|---|---|
|||||2023|2022|
||||Note||g|
|Fixed assets||||||
|Tangible assets||||560,685|466,687|
|Current
assets||||||
|Debtors|||9|8,049|139,388|
|Cash at bank|and in hand||10|281,049|188,998|
|Creditors: Amounts||falling due within one year|11|289,098
~15,233|328,386
~28,998|
|Net current|assets|||273,865|299,388|
|Net assets||||834550|766075|
|Funds ofthe|charity:|||||
|Restricted income funds||||||
|Restricted funds|||13|148,881|159,085|
|Unrestricted|income|funds||||
|Unrestricted|funds|||685,669|606,990|
|Total funds|||13|834550|766075|
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||||2023|2022|
|---|---|---|---|---|
|||Note|||
|Cash flows from operating
activities|||||
|Net cash income|||68,475|297,250|
|Adjustments
to cash flows from non-cash items
Depreciation
Investment
income||5|73,534
~7|57,679|
||||142,002|354,929|
|Working capital adjustments|||||
|Decrease/(increase)
in debtors
(Decrease)/increase
in creditors||9
11|131,339
~(13,765|(86,934)
7,126|
|Net cash flows from operating
activities|||259,576|275,121|
|Cash flows from investing
activities|||||
|Interest receivable
and similar income
Purchase oftangible fixed assets||5
8|7
~167,532)|~216,352|
|Net cash flows f'rom investing
activities|||(167,525)|~(2(6,352|
|Net increase in cash and cash equivalents|||92,051|58,769|
|Cash and cash equivalents
at 1April|||188,998|130,229|
|Cash and cash equivalents
at31March|||281,049|188,998|
|Reconciliation ofnet cash flow to movement|in net funds||||
|Increase in cash|||92,051|58,769|
|Net funds at 1April 2022|||188,998|130,229|
|Net funds at 31March 2023|||281,049|188,998|
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||||||Unrestricted|||
|---|---|---|---|---|---|---|---|
||||||funds|Total|Total|
||||||General|2023|2022|
||||||||g|
|Donations|and|legacies;||||||
|Donations Rom|||companies,|trusts and similar||||
|proceeds|||||71,257|71,257|9,720|
|Grants, including|||capital grants;|||||
|Government||grants|||||102,196|
||||||71,257|71,257|111,916|
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|Income fro|m charitable
activiti|es||||
|---|---|---|---|---|---|
|||Unrestricted||||
|||funds|Restricted|Total|Total|
|||General|funds|2023|2022|
||||f,|||
|Studio rental||58,186||58,186|48,499|
|Fees &sales||1,774|8,069|9,843|2,387|
|Fundraising||505||505|21,047|
|Grants|||240,311|240,311|345,021|
|Membership|&other income|990|12|1,002|35,758|
|||61,455|248,392|309,847|452,712|
|4
Grants &donations|||||
|---|---|---|---|---|
|||Unrestricted|Restricted||
|||funds|funds|Total|
|Arts Council England (capital purposes)|||95,826|95,826|
|Severn Trent Community|Fund (capital purposes)||53,605|53,605|
|Garfield Western Foundation
(capital purposes)|||50,000|50,000|
|Foyle Foundation
(capital
The Elephant Trust|purposes)||35,000
2,500|35,000
2,500|
|Breaking Barriers Building Bridges|||1,100|1,100|
|Mighty Creatives||4,341||4,341|
|Sundry under f.1000||720|1,280|2,000|
|New Midland Group
The Arts Council England||66,196|1,000|1,000
66,196|
|||71,257|240,311|311,568|
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||||||Unrestricted||
|---|---|---|---|---|---|---|
||||||funds|Total|
||||||General|2023|
|Interest receivable|and similar||income;||||
|Interest receivable on bank deposits|||||||
|6
Expenditure|on charitable||activities||||
||||Unrestricted||||
||||funds|Restricted|Total|Total|
||||General|funds|2023|2022|
|Board expenses|||786||786|74|
|Legal &professional||fees|3,032||3,032|5,454|
|Office costs
Rent &rates|||8,012
1,062|1,326|9,338
1,062|5,183
113|
|Repairs &maintenance|||4,426||4,426|7,957|
|Insurance|||525||525|255|
|Events &fundraising|||6,226||6,226|5,807|
|Marketing|||848|1,610|2,458||
|Utilities|||22,917||22,917|25,841|
|Depreciation|||73,534||73,534|57,679|
|Programme
costs|||771|72,602|73373|49,777|
|Intern costs
Bank charges|||2,610||2,610|2,223
71|
|Tralnlng
Other expenditure
Volunteer
expenses|||3,170
235||3,170
235|2,935
1,080|
|Travel &accommodation
Wages, NI &Pension|||979
96,068|11,897|979
107,965|1,878
101,051|
||||225,201|87,435|312,636|267,378|
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|The aggregate
payroll costs were as follows:|||
|---|---|---|
||2023|2022|
||f,||
|Staffcosts during the year were:|||
|Wages and salaries|104,332|96,691|
|Social security costs|1,768|2,534|
|Pension costs|1,865|1,826|
||107,965|101,051|
|2023|2022|
|---|---|
|No|No|
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|8
Tangible fixed assets||||||
|---|---|---|---|---|---|
||Land and|Furniture|and|Computer||
||buildings|equipment||equipment|Total|
|Cost||||||
|At 1April 2022|636,094||7,670|5,302|649,066|
|Additions|167,532||||167,532|
|At 31March 2023|803,626||7,670|5,302|816,598|
|Depreciation||||||
|At 1 April 2022|173,211||6,848|2,320|182,379|
|Charge for the year|72,583||746|205|73,534|
|At 31March 2023|245,794||7,594|2,525|255,913|
|Net book value||||||
|At 31March 2023|557,832||76|2,777|560,685|
|At 31March 2022|462,883||822|2,982|466,687|
||Page 23|||||
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|9
Debtors||||
|---|---|---|---|
|||2023|2022|
||||g|
|Trade debtors||8,049|25,182|
|Accrued income|||5,595|
|Other debtors|||108,611|
|||8,049|139,388|
|10 Cash and cash equivalents||||
|||2023|2022|
|Cash on hand||74|242|
|Cash atbank||280,975|188,756|
|||281,049|188,998|
|11 Creditors: amounts|falling due within one year|||
|||2023|2022|
|Trade creditors||6,717|20,610|
|Other taxation and social|security|1,655|1,733|
|Other creditors||6,861|6,655|
|||15,233|28,998|
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|13 Funds|||||||||
|---|---|---|---|---|---|---|---|---|
|||||||||Balance at|
|||||Balance at 1|Incoming|Resources||31March|
|||||April 2022|resources|expended|Transfers|2023|
|||||||g|g|g|
|Unrestricted|funds||||||||
|General|||||||||
|General||||100,303|132,719|(151,667)|(1,371)|79,984|
|Designated|||||||||
|Fixed Assets||||466,687||(73,534)|167,532|560,685|
|Reserves||||40,000|||5,000|45,000|
|||||506,687||73,534|172,532|605,685|
|Total unrestricted|||funds|606,990|132,719|(225,201|171,161|685,669|
|Restricted funds|||||||||
|Programmes
Capital||||133,944
25,141|29,561
218,831|(74,453)
(12,982)|~(7(,)6(|89,052
59,829|
|Total restricted||funds||159,085|248,392|~87,435|~171,16(|148,881|
|Total funds||||766,075|381,111|(312,636)||834,550|
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||||||||Balance at|
|---|---|---|---|---|---|---|---|
||||Balance at 1|Incoming|Resources||31March|
||||April 2021|resources|expended|Transfers|2022|
||||||||g|
|Unrestricted|funds|||||||
|General||||||||
|General|||25,549|198,894|(134,514)|10,374|100,303|
|Designated||||||||
|Fixed Assets|||308,014||(57,679)|216,352|466,687|
|Reserves|||26,000|||14,000|40,000|
||||334,014||57,679|230,352|506,687|
|Total unrestricted||funds|359,563|198,894|~192,193)|240,726|606,990|
|Restricted||||||||
|Programmes|||109,262|99,867|(75,185)||133,944|
|Capital||||265,867||~240,726|25,141|
|Total restricted funds|||109,262|365,734|(75,185)|(240,726)|159,085|
|Total funds|||||||766,075|
|14 Analysis ofnet assets betwe|en funds||||
|---|---|---|---|---|
|||||Total funds at|
||Unrestricted|funds|Restricted|31March|
||General|Designated|funds|2023|
|||||g|
|Tangible fixed assets||560,685||560,685|
|Current assets|95,217|45,000|148,881|289,098|
|Current liabilities|(15,233)|||(15,233)|
|Total net assets|79,984|605,685|148,881|834,550|
|||||Total funds at|
||Unrestricted|funds|Restricted|31March|
||General|Designated|funds|2022|
|||f,|||
|Tangible fixed assets||466,687||466,687|
|Current assets
Current liabilities|129,301
28,998|40,000|159,085|328,386
~28,998)|
|Total net assets|100,303|506,687|159,085|766,075|
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|||2023|2022|
|---|---|---|---|
|Independent|examination|1,045|940|
|Other financial services||2,518|3,187|
|||3,563|4,127|
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|17 Trustees remuneration
and expenses|17 Trustees remuneration
and expenses||
|---|---|---|
|During
the year the charity made the|following|transactions
with trustees:|
|Alison Lloyd
Alison Lloyd received remuneration|off605 (2022: KNil) during the year.||
|Received payment
for her capacity as aFreelance staffing (invigilation)|||
|Frank Abbott|||
|Frank Abbott received remuneration|off100(2022: KNil) during the year.||
|Received afee for Artist Development|||
|William Harvey|||
|WiHiam Harvey received remuneration
of f836||(2022:PNil) during the year.|
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